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SA's Grid Scale Storage Fund attracts global interest

International companies at the forefront of developing innovative energy storage solutions are among those that have applied for the Marshall Liberal Government’s $50 million Grid Scale Storage Fund.

The Fund, launched in November 2018, is another critical component of the Marshall Government’s policies designed to deliver cheaper, more reliable and greener power to South Australian households and businesses.

Minister for Energy and Mining Dan van Holst Pellekaan said that when applications closed last week more than 50 proposals had been received.

“Accelerating private sector investment in large-scale energy storage infrastructure will help address the reliability and affordability problems that plagued the South Australian electricity network under the previous Labor Government,” said Minister van Holst Pellekaan.

“The number of proposals and calibre of applicants highlights the gilt-edge opportunity to capitalise on South Australia’s abundant wind, solar and other renewable energy sources.

“The Marshall Government’s Grid Scale Storage Fund has succeeded in attracting energy pioneers from around the globe to continue the transformation of South Australia’s electricity network to a low cost, high reliability, low emission system.

“Grid scale storage is required so abundant renewable energy when it’s sunny or windy can be retained and then despatched to meet consumers’ needs.

”The Fund sought proposals based on projects that targeted assets located behind-the-meter in commercial or industrial facilities or in the distribution network, or targeted centralised or large front-of-the-meter assets.

Applicants may also be eligible to receive funding from the Australian Renewable Energy Agency (ARENA) under its Advancing Renewables Program.

Applicants were invited to apply for both funding programs after the State Government signed a Memorandum of Understanding with ARENA in November last year, with the view to coordinate the assessment of projects that are eligible for joint funding.

Successful proposals to the Grid Scale Storage Fund are expected to be announced from mid-2019.